Barack Obama

"Obama Is Destroying Europe", "Dragging It Into A Crusade Against Russia" Says Former French PM

"Today, Europe is not independent… The US is drawing us [the EU] into a crusade against Russia, which contradicts the interests of Europe,” said the former French Prime Minister Fillon while the chief economist at Bremer Landesbank adds that as a result of US policies "unmeasurable damage lies in an elevated geopolitical risk situation for the people in the EU.”

US Will Send 400 More Troops To Iraq Bringing Total To 3,500; Open New Military Base

As reported yesterday, in the latest escalation of the "war on ISIS", Obama - winner of the Nobel peace prize for pulling US soldiers out of Iraq - was said to be sending even more US soldiers, pardon military advisors, to Iraq to halt the inexplicable, constant expansion of ISIS, now deep in Syrian territory. Earlier today, this was confirmed when Reuters reported that, as expected, the US will announce on Wednesday plans for a new military base in Iraq's Anbar province and the deployment of around 400 additional U.S. trainers to help Iraqi forces in the fight against Islamic State, citing an unnamed U.S. official.

Frontrunning: June 10

  • Pressing for Greek concessions, Merkel and Hollande keep Tsipras waiting (Reuters)
  • Treasuries Extend Slump as Pimco Dumps Two-Thirds of Holdings (BBG)
  • U.S. prepares plans for more troops, new base in Iraq: officials (Reuters)
  • Texas policeman resigns after video shows him toppling teen (Reuters)
  • Kuroda Says Hard to See Yen Dropping More, Spurring Surge (BBG)
  • Tech Startups Woo Investors With Unconventional Financial Terms — but Do Numbers Add Up? (WSJ)
  • Putin is a 'bully', U.S. needs to respond resolutely: Jeb Bush (Reuters)

What’s Wrong With The Administration’s Trade-Deal Arguments

What’s really at issue here is a transfer from national democratic sovereignty to, instead, international-corporate sovereignty, in which international coporations will have locked-in an international dictatorial control over a large portion of what it is that national governments do, and necessarily must do, in order to serve the public good. The whole thing is a corrupt con-job.

Obama Considers Sending More Troops To Iraq

"U.S. President Barack Obama is weighing steps to bolster Iraq's battle against Islamic State," Reuters says, as senior military officials indicate an increase in the number of US "support personnel" may be necessary. Meanwhile, Congressional war hawks are beating the drum.

Frontrunning: June 9

  • Greece Said to Submit Revised Budget Plan in Bid for Funding (BBG)
  • Protesters seek firing of Texas officer who threw girl to ground (Reuters)
  • HSBC to cut 50,000 jobs in quest for higher dividends (Reuters)
  • U.S. base shipped live anthrax to 19 states plus D.C.: Pentagon (Reuters)
  • Obama Administration Opens Door for More Student-Debt Forgiveness (WSJ)
  • China Said to Weigh Margin Finance Rule Change Amid Stock Boom (BBG)
  • Doctor who trained U.S. troops suspended for macabre techniques (Reuters)
  • Exxon to Face Regulators’ Questions Over Quakes (WSJ)

Saudi Ambassador Warns West On Iran Deal: "All Options On Table..." Including Nukes

We previously warned of the risks of escalation in The Middle East to something much more dangerous, but, as the Saudi ambassador to UK confirmed today, the risk of Wahhabis going nuclear is even higher than many expected, "...if [Iran will not offer assurances it will not pursue nuclear weapons], then all options will be on the table for Saudi Arabia... Iran’s nuclear program poses a direct threat to the entire region and constitutes a major source and incentive for nuclear proliferation across the Middle East, including Israel."

GoldCore's picture

Deutsche Bank’s derivatives position is truly enormous. It was recently estimated to be around $54 trillion. Germany's GDP, the 4th largest in the world, was a mere $3.64 trillion in 2015. Were Deutsche Bank caught off-side in its derivatives positions there is not a government or institution on earth that could bail it out and it could lead to contagion in the German financial system and indeed in the global financial system.

With Greece "Everything Must Go Right From Now On" To Avoid Market Shock

“A positive scenario requires almost everything to go right from now on,” BofAML says, adding that “Greece needs to receive new funding before the end of June, otherwise it will not be able to repay the IMF on June 30 … which would put ELA access of Greek banks at risk.” 

Frontrunning: June 8

  • White House denies Obama said strong dollar a problem (Reuters)
  • Lira Falls to Record Amid Stock Rout as AK Party Loses Majority (BBG)
  • Bond-Market Game of Chicken With Fed Is Riskier Than Ever (BBG)
  • Xetra Dax enters correction territory (FT)
  • China trade shrinks amid slowing demand (FT)
  • Greek government eyes compromise with lenders, rules out snap polls (Reuters)
  • If You Think Greece’s Crisis Will End Soon, Think Again (BBG)
  • China growth data ‘overstated’ due to data error (FT)
  • Calpers to Cut External Money Managers by Half (WSJ)

Obama Sidelines Kerry On Ukraine Policy

John Kerry now faces the decision as to whether to quit — which would force the EU’s hand regarding whether to continue with U.S. policy there — or else for Kerry to stay in office and be disrespected in all capitals for his staying on after having been so blatantly contradicted by his subordinate on a key issue of U.S. foreign policy.

Folksy Obama Arrives In Germany: "Slugs" Sausage, Beer And Pretzels, Goes Lederhosen Shopping

Earlier today, Barack Obama, together with 6 of the world's most powerful leaders (but certainly not Vladimir Putin) congregated in the Bavarian town of Krun where they will for the next two days hunker down at the luxurious Scholss Elmau for the latest G-7 meeting, covering an agenda dealing with climate change, global extremism, and of course, solving the Ukraine crisis (with or without instructions from George Soros on how to proceed). Serious stuff. Obama, however, decided to keep it "folksy" and the lame duck president, content with the direction the world is going, pulled a page right out of National Lampoons European vacation and kicked it back.

Sounding The Alarm On The Country's Vulnerability To An EMP

Last year, Elliott Management's Paul Singer highlighted "one risk that stands way above the rest in terms of the scope of potential damage adjusted for the likelihood of occurrence" - an electromagnetic pulse (EMP). As Michael Snyder previously details, our entire way of life can be ended in a single day.  And it wouldn’t even take a nuclear war to do it.  All it would take for a rogue nation or terror organization to bring us to our knees is the explosion of a couple well-placed nuclear devices high up in our atmosphere.  The resulting electromagnetic pulses would fry electronics from coast to coast, and, as PeakProsperity.com's Chris Martenson explains, the country is extremely vulnerable to an EMP...

NSA Is Back Online After Senate Passes "USA Freedom Act"

While one should remain skeptical of just exactly what will happen, the Senate voted in the majority on Tuesday in favor of the USA Freedom Act, adopting the same version of the bill that had overwhelmingly passed the House of Representatives last month by 338-88. The USA Freedom Act (theoretically) ends the NSA’s bulk collection of phone metadata, it allows that information to be stored instead by telecommunications providers, which could then be accessed by intelligence agencies with a warrant. While sold as reigning in the agency’s surveillance powers, the bill allows the NSA to resume collecting intelligence... Realistically it appears nothing more than a great PR effort to bury the spy state even deeper